Watkins Glen Motor Racing Research Council Inc

Analysis

Watkins Glen Motor Racing Research Council Inc is a registered charity in United States, based in Watkins Glen, NY. It received its IRS tax-exemption ruling in December 1999, 27 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Watkins Glen Motor Racing Research Council Inc reported income of $581k and spending of $726k, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $651k to $581k (-11%), an average of -2.8% a year. The sharpest change came in the year to December 2021, when income rose by 53%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Watkins Glen Motor Racing Research Council Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within NY. Charities of a similar size with the same main cause include Middlebury Community Music Center ($580k), Artists Collective Incorporated ($581k) and Oklahoma Music Educators Association ($580k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 5.0% of the total. Compensation of current officers, directors and key employees was $93k (13% of expenses). Other salaries and wages came to $240k. At year end it held assets of $5.1m against liabilities of $95k, net assets of $5.0m. It reported 10 employees.